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China's logistics demand sees rapid growth in 1st 3 quarters of 2021

04
Nov '21
Pic: Enanuchit|Dreamstime.com
Pic: Enanuchit|Dreamstime.com
China's logistics demand witnessed relatively rapid growth in the first three quarters of this year—9.4 percentage points higher than the same period last year—despite the sporadic resurgence of COVID-19 cases, extreme weather conditions and power cuts, according to the China Federation of Logistics and Purchasing (CFLP).

The federation attributed the growth to rising logistics demand from industries and consumption.

In the first three quarters, the total value of goods in the logistics sector was 234.5 trillion yuan (about $36.69 trillion), rising 11.4 per cent year on year.

Logistics demand has generally maintained a recovery momentum since the beginning of the year, with its scale and growth rate higher than the same period before the pandemic, CFLP said, adding that the sector shows great resilience and vitality, according to an official news agency.

Data also shows that the total cost of logistics amounted to 12.1 trillion yuan during the period, a year-on-year increase of 15 per cent.

The cost was slightly higher than the pre-pandemic level in 2019, showing that upstream and downstream supply chains are still in recovery, CFLP said.

However, compared with the same period last year when COVID-19 was spreading rapidly, the efficiency of logistics operations has improved, and the resilience of supply chains has continued to increase, CFLP noted.

CFLP expects the total value of goods distributed through logistics in China to grow at around 10 per cent for the whole year.

Fibre2Fashion News Desk (DS)


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